Posts Tagged ‘Caribbean’

WRB Energy: What Will It Take to Develop More Renewable Energy in the Caribbean?

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TAMPA, Florida, March 12, 2019 /PRNewswire-HISPANIC PR WIRE/ – With the abundance of clean energy resources in the Caribbean—sun, wind, water, and geothermal—it’s a natural environment for more renewable energy generation.  So why isn’t there more renewable energy produced in the Caribbean, and why aren’t there more projects in the pipeline?

With more than three decades of experience developing renewable energy projects and operating utilities, WRB Energy can address some of the challenges that hinder increased renewable energy generation in the Caribbean.

Contain costs

Most small Caribbean island nations lack economies of scale to absorb the high costs and complexities of developing relatively small renewable installations as compared to those in larger, more developed countries.  With relatively smaller populations, economies, and electricity demand, there are fewer kilowatt-hours produced to amortize the up-front investment expenses cost-effectively. However, as the prices for renewable energy equipment continue to decrease and technologies advance, solar, wind, and geothermal are increasingly more viable, least-cost options for diversified energy portfolios.

Flatten the learning curve

Government leaders with a stable long-term vision and implementation plans for increased renewable energy attract the best opportunities for project development. By working collaboratively, utilities, government, regulators and developers can help level the learning curve for initial projects.

Understand that land is precious

Securing appropriate land for project siting poses significant challenges. There is tremendous pride in land ownership, with parcels of land being passed on from generation to generation. Also, there is a history of informal land dealings, which leads to clouded property titles. Consequently, these issues can create local owner resistance to land transactions and long-term leases.

Clarify investment requirements

Banks, investors, and multilateral organizations have mandates, terms, securities and covenants that can be misunderstood in negotiations with governments, utilities and regulators. Policies and processes need to be clearly defined to avoid misinterpretation of project terms.

Harness a sustainable future

Developing renewable systems reliably and affordably requires due diligence to avoid electricity rate increases. It’s a long-term strategy requiring cooperation between stable government policies, flexible utilities, competent regulatory bodies, responsible investors, and credible development partners to design, develop and deliver renewable energy projects as promised.  Read more at https://wrbenergy.com/wp-content/uploads/2013/08/FINAL-ENERGY-0032-2019-feature-article-3-4-19.pdf. Download photos at https://www.dropbox.com/sh/8u4fxjjpjghexce/AACs-LpeFMSgBQ58o7_NrmzQa?dl=0

WRB Energy develops renewable energy projects to help stabilize electricity prices, reduce dependence on imported fuels, and drive economic growth in Latin America and the Caribbean. Visit www.wrbenergy.com and https://wrbenergy.com/content-solar-jamaicas-first-utility-scale-solar-plant/.

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Scotiabank completes acquisition of 97.44% of Banco Dominicano del Progreso

TORONTO and SANTO DOMINGO, Dominican Republic, March 1, 2019 /PRNewswire-HISPANIC PR WIRE/ – Scotiabank announced today that it has successfully completed the acquisition of 97.44% of Banco Dominicano del Progreso (BDP), after receiving regulatory approval by the Superintendency of Banks and the Monetary Board of the Central Bank of the Dominican Republic.

“We are excited to have completed this transaction that is fueled by the strategy of gaining greater scale in economically stable markets with prospects for growth, and allows us to expand and strengthen our operations in the country. We are building a leaner, more modern digital bank, to continue improving our customers’ experience with enhanced financial services and products” said Gonzalo Parral, CEO, Scotiabank Dominican Republic.

With the closing of this acquisition, Scotiabank doubles its customer base and strengthens its fourth-place position in terms of assets in full-service banking and its third-place ranking in the credit card segment in the Dominican Republic, with a 17% share of the market. The acquired Banco Dominicano del Progreso operations include 57 branches, 184 ABMs and more than 160 banking sub-agents, which serve more than 250,000 personal and commercial banking customers.

For further information on the integration stage, please visit www.scotiabank.com.do and www.progreso.com.do.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 98,000 employees¹ and assets of over $1 trillion (as at January 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

¹Employees are reported on a full-time equivalent basis.

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Perfect Water for the Caribbean – Zero Mass Water Unveils SOURCE Hydropanels in Jamaica

Zero Mass Water’s SOURCE Hydropanels make water from air for the University Hospital of the West Indies’ Pediatric Ward

KINGSTON, Jamaica, Feb. 27, 2019 /PRNewswire-HISPANIC PR WIRE/ — How does a hospital maintain continuous access to its most precious resource? Zero Mass Water has the answer: SOURCE Hydropanels that use only sunlight and air to make high-quality, resilient water.

The Caribbean Climate-Smart Accelerator was formed by Caribbean leaders in 2017 to strengthen the region’s readiness and response to disasters. The Accelerator’s objective is to create the globes’ first climate-smart zone to transform Caribbean economies with investment opportunities that support climate action. Zero Mass Water’s SOURCE Hydropanels attracted the attention of the University Hospital of the West Indies’ (UHWI) Pediatric Ward. Looking to provide high-quality water while supporting Jamaica’s pioneering efforts as one of only a handful of countries to have banned single-use plastics, the Hospital eagerly joined the ranks of communities worldwide taking their drinking water off-grid with the renewable water technology.

“We’re excited about the impact of this hospital project, our first in partnership with the Accelerator,” says Zero Mass Water Founder and CEO Cody Friesen, “This array of SOURCE Hydropanels is providing clean, resilient drinking water to staff and patients, and represents the impact we have across the broader Caribbean.”

Installed on the Hospital’s rooftop, the Hydropanel array produces up to 3,000 liters of water per month. This installation is the first of several arrays Zero Mass Water will complete through its partnership with the Caribbean Climate-Smart Accelerator.

Until now, communities in Jamaica lacked good options for water access. With the island’s water infrastructure often deemed too old and ineffective –Jamaicans often turn to bottled water as their primary supply, contributing to the nation’s plastic waste troubles. Recent water lock offs in Jamaica have left institutions, like UHWI, to seek better solutions.

SOURCE Hydropanels make, mineralize, and deliver high-quality drinking water by converting moisture in the air, representing a new choice for water that is both waste-less and reliable.

“A first step in building resilience is having access to clean drinking water after a disaster. The elegance in this solution is that it provides that facility while also displacing plastic water bottles that are contributors to our climate challenge. Zero Mass Water’s delivery of an innovative solution to our most vulnerable is an example to others, it embodies the kind of partnerships most desired by the Accelerator,” said Sir Richard Branson, Virgin Group Founder.

Zero Mass Water’s SOURCE Hydropanels are available for purchase and have been installed for homes and communities across the Caribbean.

About Zero Mass Water

Zero Mass Water’s mission is to make drinking water an unlimited resource. SOURCE is a Hydropanel that creates drinking water simply from sunlight and air – made possible by the combination of thermodynamics, materials science and controls technology. Zero Mass Water puts the power of safe, high-quality water production into the hands of every person in nearly every climate and corner of the world. Zero Mass Water is headquartered in Scottsdale, Arizona.

For more information, go to zeromasswater.com or follow Zero Mass Water on Twitter @zeromasswater.

Photo – https://mma.prnewswire.com/media/828018/Zero_Mass_Water_SOURCE_Water.jpg

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The Bevertec Group to Implement Shared Financial Delivery Services for St. Lucia Credit Unions

CaribPR Wire, TORONTO, Feb. 06, 2019: Bevertec CST Inc., a leading provider of retail financial services technology and services in the Caribbean and worldwide, is pleased to announce that the company has reached an agreement with Capita Financial Services Inc. (Barbados) to implement an Automated Teller Machine network and related technology to serve the credit unions of St. Lucia.

The ATM driving, transaction switching and debit card issuing solution will be run from Bevertec’s processing centre in Antigua. All credit union ATMs in St. Lucia will be shared among the subscribing institutions forming a de-facto national network for credit unions. Bevertec’s Client Services Workstation will be available to all ATM-owner institutions enabling local, real-time, ATM monitoring and report retrieval over and above centralized monitoring and support delivered from Bevertec’s operations centre.

Bevertec’s President, Mr. Barry Walsh, commented, “We are very proud to be an integral participant in the digital transformation of St. Lucia’s Credit Unions. This project provides Bevertec with an opportunity to further demonstrate our commitment to the financial services industry in the region. We are looking forward to working with Capita and the Credit Unions of St. Lucia in building a showcase of innovation and service delivery.”

Mr. Paul Maxwell, President & CEO of Capita Financial Services Inc. said, “This partnership is transformative, both for the credit unions who can now offer their members a more complete range of services and for individual members who would now be able to perform ordinary day-to-day transactions in a way that was not before possible.”

About Bevertec Group

Since 1981, the Bevertec Group, a Canadian enterprise, has been supplying technology and services to various industry sectors. The Group has over 100 customers in the financial services sector spread across five continents but focuses primarily in the Caribbean, Central and South American markets. The Group also provides consulting services, staffing solutions and subject matter expertise to assist institutions at all business levels including development/project work, project management and strategic direction and planning.

About Capita Financial Services Inc.

Capita Financial Services Inc., a Barbados company, is a one-stop financial services company. Capita provides residential and commercial mortgages, land loans, vehicle loans, premium finance loans, leases, general insurance, term deposits, mutual funds and stock brokerage services. The company serves private individuals, insurance companies, credit unions, government statutory corporations, pension funds, and institutional investors.

About St. Lucia Co-operative League Limited

The St. Lucia Co-operative League Limited is the umbrella body for Co-operatives in St. Lucia. At the local level they function as the link between government and the individual Credit Unions. Key responsibilities include fostering the growth and welfare of Credit Unions both by direct effort and co-operation with other agencies having similar objectives and providing information and guidance to co-operative leaders and personnel so that the societies they serve will offer the best possible service to members and to make such opportunity equitable.

El Grupo Bevertec implementará servicios de entrega financiera compartida para las cooperativas de ahorro y crédito de Santa Lucía

CARIBPR WIRE TORONTO, Feb. 06, 2019:  Bevertec CST Inc., un proveedor líder de servicios y tecnología de servicios financieros para el consumidor en el Caribe y en todo el mundo, se complace en anunciar que la compañía ha alcanzado un acuerdo con Capita Financial Services Inc. (Barbados) para implementar una red de cajeros automáticos y tecnología relacionada para atender a las cooperativas de ahorro y crédito de Santa Lucía (St. Lucia Co-operative League Limited).

La solución para manejo de cajeros automáticos, cambio de transacciones y emisión de tarjetas de débito se ejecutará desde el centro de procesamiento de Bevertec en Antigua. Todos los cajeros automáticos de St. Lucia Co-operative League Limited será compartida entre las instituciones suscritas que forman una red nacional de facto para las cooperativas de crédito. La estación de trabajo de Servicios para Clientes de Bevertec estará disponible para todas las instituciones propietarias de cajeros automáticos, lo que permitirá el monitoreo de cajeros automáticos en tiempo real en tiempo real y la recuperación de informes por encima del monitoreo y la asistencia centralizados que ofrece el centro de operaciones de Bevertec.

El presidente de Bevertec, el Sr. Barry Walsh, comentó: “Estamos muy orgullosos de ser un participante integral en la transformación digital de las cooperativas de crédito de Santa Lucía. Este proyecto le brinda a Bevertec la oportunidad de demostrar aún más nuestro compromiso con la industria de servicios financieros en la región. Estamos ansiosos por trabajar con Capita y las cooperativas de ahorro y crédito de Santa Lucía en la construcción de una muestra de innovación y prestación de servicios “.

El Sr. Paul Maxwell, Presidente y CEO de Capita Financial Services Inc. dijo: “Esta asociación es transformadora, tanto para las cooperativas de ahorro y crédito que ahora pueden ofrecer a sus miembros una gama de servicios más completa como para los miembros individuales que ahora podrían realizar transacciones cotidianas ordinarias de una manera que antes no era posible “.

Acerca del Grupo Bevertec

Desde 1981, el Grupo Bevertec, una empresa canadiense, ha estado suministrando tecnología y servicios a diversos sectores de la industria. El Grupo tiene más de 100 clientes en el sector de servicios financieros distribuidos en los cinco continentes, pero se centra principalmente en los mercados del Caribe, América Central y América del Sur. El Grupo también proporciona servicios de consultoría, soluciones de personal y expertos para ayudar a las instituciones en todos los niveles de negocios, incluido el desarrollo / trabajo de proyectos, gestión de proyectos y dirección estratégica y planificación.

Acerca de Capita Financial Services Inc.

Capita Financial Services Inc., una compañía de Barbados, es una compañía integral de servicios financieros. Capita otorga hipotecas residenciales y comerciales, préstamos sobre terrenos, préstamos para vehículos, préstamos con financiamiento premium, arrendamientos, seguros generales, depósitos a plazo, fondos mutuos y servicios de corretaje de valores. La compañía presta servicios a personas privadas, compañías de seguros, cooperativas de crédito, corporaciones gubernamentales, fondos de pensiones e inversionistas institucionales.

Sobre St. Lucia Co-operative League Limited

St. Lucia Co-operative League Limited es el organismo que une a las cooperativas en Santa Lucía. A nivel local, funciona como el vínculo entre el gobierno y las cooperativas de crédito individuales. Las responsabilidades clave incluyen fomentar el crecimiento y el bienestar de las cooperativas de crédito, tanto por el esfuerzo directo como por la cooperación con otras agencias que tienen objetivos similares y brindar información y orientación a los líderes y al personal de las cooperativas para que las sociedades a las que sirven ofrezcan el mejor servicio posible a sus miembros y para asegurar que oportunidades como esta sean equitativas.

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Avaya Expands Distributor Partnership For Ecuador, Venezuela, Central America and the Caribbean

DACAS joins the exclusive group of distributors of Avaya solutions in the Latin American region

MIAMI, Dec. 19, 2018 /PRNewswire-HISPANIC PR WIRE/ – Avaya Holdings Corp. (NYSE: AVYA) announced that its DACAS distributor expands services in the Latin American market and makes available Avaya solutions for companies of all sizes and industries. DACAS will now provide its services in Ecuador, Venezuela, Central America, the English Caribbean and Spanish.

Avaya offers one of the most complete portfolios of Unified Communications solutions, software and services for companies that are embracing digital transformation today. Companies continue to invest and improve their engagement solutions with both the client and work teams, for large companies and medium market, as well as services based on the private, public and hybrid cloud and on demand.

Since its association with Avaya in 2015, DACAS distributes security solutions, Infrastructure and Unified Communications. Now, under the new work scheme, they will also be participating in the distribution of solutions for Contact Centers, SMEs, telephony, and devices and Avaya Equinox Meetings Online. The new countries add to the services already available in the Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay.

“Since we started distributing Avaya solutions in 2015, we confirmed that Avaya is one of the brands that integrators seek to offer to the market,” said Diego Cascata, president of Dacas. “We look for ways to provide our business partners with top-tier solutions they can develop in their markets and get excellent results maximizing their operations. In this goal we feel aligned with AVAYA, to achieve clients’ total satisfaction. In Dacas we are pleased to incorporate the regions of the Caribbean, Central America, Ecuador and Venezuela. He added: “This represents a great opportunity because of the importance and scale of these markets in our hemisphere.”

“Our partners and distributors are a fundamental piece to the success of Avaya and our customers and we continue to invest in our community of business partners and distributors,” said Santiago Aguirre, senior director of channels and distribution, Avaya, Americas International. “For us, it is a privilege to have a business partner and distributor who understands company needs specific to the region with high knowledge and value offer especially in the areas of security, infrastructure and Unified Communications. We have modernized and improved our channel program to reflect the transformation of Avaya and help our business partners to take full advantage of the new opportunities offered by the current market.”

Currently, Avaya has four regional distributors: Anixter, Techdata, Scansource and DACAS, thus covering the needs of its business partners ecosystem in all industries, especially those in the areas of health, government, education, manufacturing and hospitality.  Avaya and its authorized distributors are prepared to offer the solutions, training, programs and resources that companies need to do more business and exceed the expectations of their customers.

About Avaya
Businesses are built on the experiences they provide, and every day millions of those experiences are built by Avaya (NYSE: AVYA). For over one hundred years, we’ve enabled organizations around the globe to win – by creating intelligent communications experiences for customers and employees. Avaya builds open, converged and innovative solutions to enhance and simplify communications and collaboration – in the cloud, on-premise or a hybrid of both. To grow your business, we’re committed to innovation, partnership, and a relentless focus on what’s next. We’re the technology company you trust to help you deliver Experiences that Matter. Visit us at www.avaya.com.

Cautionary Note Regarding Forward-Looking Statements
This document contains certain “forward-looking statements.” All statements other than statements of historical fact are “forward-looking” statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,” “plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or “would” or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, the delivery of a cloud platform, the availability of features such as agent quality software applications and Intelligent Wire services, and the Company’s move to Big Data, Machine Learning and AI. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. The factors are discussed in the Company’s Registration Statement on Form 10 filed with the Securities and Exchange Commission, may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Company’s filings with the SEC that are available at www.sec.gov. The Company cautions you that the list of important factors included in the Company’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this report may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.


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Grupo Therrestra to build most part of the new Club Med project in Miches

The Caribbean company of Dominican origin specialized in Design, Construction and Supervision, will execute 55 Villas for a total of 129 rooms and a modern Central Building in the Club Med project.

SANTO DOMINGO, Dominican Republic, Dec. 11, 2018 /PRNewswire-HISPANIC PR WIRE/ – Grupo Therrestra, led by Engineer Hugo Pérez Ovalles, has inserted its characteristic identity stamp, based on: talent, adaptation and trust in the service of the prestigious Club Med Hotel Chain, to develop its most luxurious and prestigious project in the Americas, located in Miches, province of El Seibo.

In the complex, located in Punta Hicaco, approximately 6 km from Miches, Grupo Therrestra will develop a total of 129 rooms and a modern Central Building.

Miches being a new area to explore, where the French company specializing in premium All-Inclusive vacations has set its sights and placed its trust in Grupo Therrestra, one of the most requested Dominican construction companies in recent years by the main Hotel Chains of the world that operate in the Caribbean.

In this sense, the CEO of Grupo Therrestra, being grateful for the trust awarded once again to develop this ambitious and strategic tourism project in the Caribbean, stated “With the construction of Club Med in Miches, we wrote a new chapter in the promising future that the Dominican Republic is building, betting on attractive and interesting Tourist Poles such as Miches, especially in high end tourism. A showcase appealing to millions of people around the world”.

The project, whose first groundbreaking was led by President Danilo Medina, on May 3, 2018, it’s scheduled to open its doors by the end of 2019.

The new development of Club Med in the area, with the impetus of Grupo Therrestra, represents a powerful alliance that will help to structure one of the most promising coastal areas for tourism in the coming years, such as Playa Esmeralda.

About Grupo Therrestra

Construction Company founded in 2004 with the fundamental objective of providing construction services for civil works. It is dedicated to the Design, Construction and Supervision of tourist, residential and commercial projects, both in the Dominican Republic and in the Caribbean, generating 4,000 jobs in the region.

@grupotherrestra
http://therrestra.com/

Photo – https://mma.prnewswire.com/media/797070/Grupo_Therrestra_Club_Med.jpg

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Tourism, Food Security Among High-potential Areas for Expanding UAE-Caribbean Cooperation

DUBAI, United Arab Emirates, Nov. 29, 2018 /PRNewswire-HISPANIC PR WIRE/ — Tourism, food security, manufacturing, logistics, and renewable energy have been identified as high-potential areas where companies in the UAE and Caribbean region can expand economic cooperation, according to new analysis from Dubai Chamber of Commerce and Industry.

The findings, released on sidelines of the first UAE-Caribbean Cooperation Forum in Dubai, revealed that the value of non-oil trade between Dubai and Caribbean countries totaled $273 million in 2017.

Bilateral non-oil trade was dominated by imports from the Caribbean which were valued at $183 million in 2017, while $90 million worth of exports contributed 33% to Dubai’s trade with the region.

Suriname ranked as Dubai’s top Caribbean trading partner in 2017, with bilateral non-oil trade valued at $113.8 million, accounting for 42% of the emirate’s trade with the region. Guyana ranked second with $52.1 million in bilateral trade, followed by Dominican Republic and Trinidad and Tobago.

In addition, the findings revealed that the number of Caribbean companies registered with Dubai Chamber increased by 54% from 403 in 2013 to reach 621 in 2018.

Hamad Buamim, President & CEO of Dubai Chamber of Commerce and Industry, noted that the findings reflect the tremendous potential to boost bilateral trade and investment in the future as the UAE and Caribbean countries push ahead with plans to diversify their economies and explore business opportunities abroad.

“Dubai can serve as a global gateway for Caribbean exporters who are keen to broaden their horizons and access markets across the Middle East, Africa, and Asia, while the Caribbean region is fast emerging as an attractive investment destination, providing plenty of advantages which UAE companies can benefit from,” added Buamim.

Held on November 24th-26th, the UAE-Caribbean Cooperation Forum was co-organised by the UAE Ministry of Foreign Affairs and International Cooperation and Dubai Chamber of Commerce and Industry, in partnership with the UAE Ministry of Economy and the UAE Ministry of Culture and Knowledge Development.

Editor’s note

Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.

HE Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry

(Logo: https://mma.prnewswire.com/media/791443/UAE_Caribbean_Cooperation_Forum_Logo.jpg )
(Photo: https://mma.prnewswire.com/media/791444/HE_Hamad_Buamim.jpg )

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Proman Increases Trinidad and Tobago’s Natural Gas Supply to Petrochemical Plants

DeNovo delivers first commercial supply of natural gas from Iguana Field after more than 30 years of remaining undeveloped

PORT OF SPAIN, Trinidad and Tobago, Nov. 21, 2018 /PRNewswire-HISPANIC PR WIRE/ — DeNovo Energy Limited (”DeNovo”), a subsidiary of the Proman Group (”Proman”), has today announced the first commercial supply of gas from the Iguana Field in Block 1(a), which will deliver 80 million cubic feet of gas per day once fully operational. DeNovo, which became the operator of the field in 2016, fast-tracked the project delivery, safely executing this development using 2.6 million man-hours, with over 73% local content, in just under three years.

The project was delivered in line with Proman’s strategy for ensuring security of gas supply and sustainability in Trinidad and Tobago’s Energy Industry. Proman invested USD 250 million in DeNovo in 2015, as the first downstream group to invest in the upstream sector in Trinidad and Tobago. A global leader in petrochemicals, Proman has been operating in Trinidad and Tobago since 1984 and owns and operates 14 petrochemical plants on the Point Lisas Industrial Estate in Trinidad, amounting to more than 50% of the installed petrochemical capacity. Through this investment, Proman has been able to develop stranded pools of gas to deliver to an already matured downstream industry. The Iguana Field is DeNovo’s first stranded gas field development, and signals a significant positive evolution in the operating capabilities within the Trinidad and Tobago energy industry as the DeNovo model provides a quick and tested way of increasing natural gas production.

Proman Chief Executive David Cassidy said, “After 30 years of excelling in the Downstream sector, we decided to invest in a local Upstream company at a time when gas curtailments seriously impaired Trinidad and Tobago’s global competitiveness. The Iguana field development is a perfect example of global collaboration and the diverse competencies within the Proman Group, as DeNovo was supported by other Proman companies to deliver this project in record time to a world-class standard. I would like to express my thanks to the expert teams at DeNovo, Proman AG (Trinidad) Ltd, Eurotecnica Contractors and Engineers S.p.A, and Industrial Plant Services Limited (IPSL) for their outstanding work. Together we have achieved a significant first for Trinidad and Tobago, demonstrating Proman’s commitment to enhancing the competitiveness of the local petrochemical sector, increasing the security of gas supply in the country, and leading a sustainable evolution in the local Energy Industry.”

Speaking of Proman’s involvement, DeNovo CEO Joel Pemberton said, “Proman has proven the great potential from natural gas still exists in Trinidad and Tobago despite the challenges faced by the local Energy Industry. Proman was the first company to make a significant investment in the local upstream, and supported DeNovo in the midst of a global energy crisis, and when gas shortages threatened petrochemical operations in Trinidad and Tobago. This investment is part of Proman’s multi-billion-dollar operation in the country, supporting hundreds of skilled jobs and supporting business, and contributing significantly to Trinidad and Tobago’s economic prosperity and Energy Industry sustainability.”

Cassidy characterised Proman’s investment in the development as “taking the initiative.” He went on to say, “We continue to work with all stakeholders to ensure that Trinidad and Tobago remains a competitive and viable place to produce petrochemicals, and that the Energy Industry can be sustainable and secure in the short and long terms.”

The announcement comes at a time when Proman has significantly scaled up its global operations partly through its controlling stake in Consolidated Energy Limited and the recent start-up of the Natgasoline plant, the United States’ largest methanol production facility, in Beaumont, Texas.

NOTES TO EDITORS

About the Proman Group

Proman is an integrated industrial group and global leader in natural gas derived products and services. Headquartered in Switzerland, with assets in the United States, Trinidad and Oman, and ongoing expansion into Mexico, Proman is the world’s second largest methanol producer and one of the ten leading fertilizer companies via, in part, its controlling stake in Consolidated Energy Limited. Proman is also a significant services business, with extensive experience in petrochemical plant operations, petrochemical and power plant construction, product marketing and logistics, and project management. The Group offers a fully integrated, diversified platform across the whole value chain from the production and conversion of natural gas to the marketing and delivery of end products to its customers. Proman has been committed to Trinidad and Tobago’s energy sector for over 30 years, continually re-investing to expand its portfolio to include methanol, anhydrous ammonia, urea ammonium nitrate and melamine. The Group employs over 1,000 employees in the country, accounting for two-thirds of Proman’s global workforce.

About DeNovo

DeNovo is a Trinidad and Tobago independent upstream operating company focused on monetising proven natural gas reserves for use in the petrochemical sector. DeNovo is part of the Proman Group, the largest petrochemical group in Trinidad and Tobago, which has been committed to the country’s Energy Industry for over 30 years. Proman is one of the world’s largest methanol producers, and a leading fertiliser producer globally. DeNovo is Proman’s upstream operating company, focused on monetising proven natural gas reserves for use in Trinidad and Tobago’s energy industry. DeNovo’s model is to Acquire top talent and resources, Collaborate with all stakeholders for the common good, Evolve in a constantly changing world whilst delivering on core objectives in line with our values, and Sustain a robust and profitable business which enhances Trinidad and Tobago.

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Cloud Carib Sponsors Grand Bahama Technology Summit

CaribPR Wire, NASSAU, Bahamas, Nov. 13, 2018: The Bahamas gears up to host its second annual technology summit this week in Grand Bahama, bringing global experts from tech companies and regional entities to the island of Grand Bahama to discuss digital transformation. Under the theme, “The Future is Now,” Cloud Carib has partnered with this year’s committee to invite key players in the field of technology.  This year’s summit promises to inspire IT professionals, developers, innovators and stakeholders both locally and internationally. The conference which runs November 14th – 16th, will cover a breadth of resources, tools, tips and practical advice from experienced professionals in the information and technology industry.

Cloud Carib’s key global technology partners, VMware, Palo Alto, Oracle, Veeam, RedHat, Cybernetica and Cisco will all be in attendance to present at the summit. These technology leaders will be hosting tech talks and workshops, sharing their knowledge and experience in digital transformation and the technology sector. Many of these experts will be sharing insight into the advantages their products and services provide within the government’s journey to digital transformation when paired with the expertise and global reach of a company headquartered in The Bahamas like Cloud Carib.

“We’re thrilled to be a partnering sponsor of this years’ technology summit. Cloud Carib and the Government of the Bahamas have been working together to lay the foundation needed to transform the government’s ICT infrastructure and establishing the Bahamas as a leader in eGovernment. We look forward to seeing The Bahamas emerge as a technology leader regionally and globally,” said Cloud Carib’s CEO, Scott MacKenzie.

Scott MacKenzie, Cloud Carib’s Chief Executive Officer will be participating in a panel discussion on ‘Transforming the Future of Business’ and Reneldo Russell, Cloud Carib’s Client Delivery Executive of the Public Sector, will be involved in a panel on ‘Disruptive Ideas, Emerging Technologies.’

Cloud Carib patrocina la Cumbre de Tecnología de Gran Bahama

CaribPR Wire, NASSAU, las Bahamas, Nov. 14, 2018: las Bahamas se prepara para celebrar esta semana su segunda cumbre tecnológica anual en Gran Bahama, reuniendo en la isla a expertos mundiales de compañías tecnológicas y entidades regionales para hablar sobre la transformación digital. Bajo la temática “El futuro es ahora”, Cloud Carib se ha asociado con el comité de este año para invitar a agentes clave del sector tecnológico.  La cumbre de este año promete inspirar a profesionales de la TI, a desarrolladores, a innovadores y a partes interesadas, tanto a nivel local como internacional. La conferencia, que se celebrará del 14 al 16 de noviembre, cubrirá una amplia gama de recursos, herramientas, consejos y asesoramiento práctico de profesionales con experiencia en el sector de la información y de la tecnología.

Los principales socios tecnológicos a nivel mundial de Cloud Carib, VMware, Palo Alto, Oracle, Veeam, RedHat, Cybernetica y Cisco asistirán para presentarse en la cumbre. Estos líderes tecnológicos organizarán charlas y talleres sobre tecnología, compartiendo su conocimiento y experiencia en la transformación digital y en el sector de la tecnología. Muchos de estos expertos compartirán información sobre las ventajas que ofrecen sus productos y servicios dentro del viaje del gobierno hacia la transformación digital cuando se combinan con la experiencia y el alcance mundial de una compañía con sede en las Bahamas como Cloud Carib.

“Estamos encantados de ser patrocinadores asociados de la cumbre tecnológica de este año. Cloud Carib y el Gobierno de las Bahamas han estado trabajando juntos para sentar las bases necesarias para transformar la infraestructura de TIC del gobierno y consolidar a las Bahamas como un líder en la administración electrónica. Esperamos ver a las Bahamas emerger como un líder en tecnología a nivel regional y mundial”, dijo Scott MacKenzie, Director General de Cloud Carib.

Scott MacKenzie, Director Ejecutivo de Cloud Carib participará en una mesa redonda sobre ‘Transformar el futuro de los negocios’, y Reneldo Russell, Ejecutivo de Comercialización con Clientes del sector público de Cloud Carib, participará en un debate de un grupo de expertos para abordar el tema ‘Ideas disruptivas, tecnologías emergentes’.


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Scotiabank named 2018 Bank of The Year by LatinFinance

TORONTO, Nov. 6, 2018 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank is proud to have been named 2018 Bank of the Year by LatinFinance for excellence in retail, commercial and investment banking services for Latin America and the Caribbean.

Scotiabank

Scotiabank is the first Canadian bank to ever receive the Bank of the Year award from LatinFinance. The Bank was recognized for its, “overall strategy, volume and diversity of transactions; innovation and foresight; execution quality and success of transactions; role in particularly complex, innovative or large deals over the years; and quantity of transactions worked on over the year, and compared to previous years,” according to LatinFinance.

“We are honoured to have been recognized by LatinFinance as the 2018 Bank of the Year and would like to thank our customers for their loyalty and our employees for their hard work and dedication to providing an excellent customer experience,” said Ignacio (Nacho) Deschamps, Group Head of International Banking and Digital Transformation at Scotiabank. “This award recognizes Scotiabank for our long history in Latin America as well as our new acquisitions that add scale in the important markets we serve, especially in the Pacific Alliance countries.”

The Bank of the Year is chosen by an editorial panel that reviews financial data and research, considers quantitative and qualitative factors, and weighs analyst opinion. Winners will be honoured at an Awards Ceremony in New York City on December 4, 2018 to celebrate LatinFinance’s 30th anniversary.

LatinFinance is the leading source of intelligence on the financial markets and economies of Latin America and the Caribbean, and has covered banking and capital markets in the region for more than 25 years. It also provides detailed transaction pipelines, underwriting and advisory league tables, polls and awards.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in the Americas. We are dedicated to helping our 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 96,000 employees and assets of $947 billion (as at July 31, 2018), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

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Grupo Aeroportuario del Pacifico Will Operate the Norman Manley Airport in 2019

KINGSTON, Jamaica, Oct. 10, 2018 /PRNewswire-HISPANIC PR WIRE/ — The most honorable Andrew Holness, Prime Minister of Jamaica hosted the Norman Manley International Airport Public-Private Partnership Execution of the Concession Agreement to Grupo Aeroportuario del Pacifico (GAP).

The Jamaican authorities, including the Prime Minister, Andrew Holness; during the execution of the concession agreement with the GAP's CEO, Raul Revuelta Musalem

GAP is a Mexican corporation that operates thirteen international airports in large metropolitan areas, industrial centers, and world-class leisure destinations of Mexico and Jamaica. In the last 18 years, the Group has invested over $1.2 billion US Dollars in the airports, positioning itself as one of the fastest growing airport groups of its size in the world. During 2017, the airports of the Group managed 40.7 million of passengers.

In April 2015, Grupo Aeroportuario del Pacifico assumed operational control of Sangster International Airport in Montego Bay, investing over 191 million US Dollars to acquire a 74.5% stake in this airport. This was the largest investment of the Group outside Mexico.

GAP has developed a culture committed to customer service. One of the main objectives of the Group once it takes control of the operations of the Norman Manley International Airport next year, will be to improve the infrastructure and equipment to fulfill passengers’ needs.

Grupo Aeroportuario del Pacifico, manages airports based on establishing strong partnerships with the airport owner, the passengers, the airlines, business developers, members in the air transportation industry and notably, with the local authorities.

“We will collaborate with the government of Jamaica in identifying tourism development opportunities and possible investors from Mexico; as well as explore potential growth for new resorts, tourism facilities and time-share business in parts of the country where the connectivity provided by the airport could be a catalyst”, mentioned Raul Revuelta, Chief Executive Officer of the Group during the ceremony in which participated Hon. Robert Montague, Minister of Transport & Mining.

Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (GAP) is a Mexican company that operates 13 international airports in the Pacific and Central Regions of Mexico and in the Caribbean:

  • Guadalajara and Tijuana, serving the main metropolitan areas.
  • Mexicali, Hermosillo, Los Mochis, Aguascalientes, Guanajuato and Morelia, serving mid-sized and developing cities.
  • La Paz, Los Cabos, Puerto Vallarta, Manzanillo and Montego Bay, serving some of the leading tourist destinations.

In Mexico, the airports are owned by the Mexican government and were assigned 50-year concessions as part of a national initiative to privatize and improve the quality and safety of the country’s airport services. In the last 18 years, GAP has invested over $1.2 billion USD in the airports. During 2017, the airports of the Group managed 40.7 million passengers.

In April 2015, GAP assumed operational control of the Sangster International Airport in Montego Bay.

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Parkland Fuel Corporation to Acquire 75% of SOL, the Largest Independent Fuel Marketer in the Caribbean

Transformational Business Combination Establishes Strong International Growth Platform; SOL’s Simpson Group to Own 9.9% of Parkland

CaribPR Wire, CALGARY, Alberta, Oct. 10, 2018: Parkland Fuel Corporation (“Parkland”, “We”, “Our” or “Us”), (TSX:PKI) Canada’s largest and one of North America’s fastest growing independent marketers of fuel and petroleum products and a leading convenience store operator, and SOL Limited have entered into an agreement to complete a business combination (the “Business Combination” or “Transaction”) between Parkland and SOL Investments Limited (“SIL”) and its subsidiaries (collectively, “SOL”).  A privately-held company owned by the Simpson Group, SOL is the largest independent fuel marketer in the Caribbean and a wholly-owned subsidiary of SOL Limited.

SOL supplies and markets a total of 4.8 billion liters of fuel volume annually across 23 countries in the Caribbean and generated US$215 million (approximately C$280 millioni) in adjusted earnings before taxes, depreciation and amortization (“Adjusted EBITDA”) in the 12-month period ending June 2018.

The Transaction will result in Parkland acquiring 75% of the issued and outstanding shares in the capital of SIL (the “SIL Shares”) for total consideration of US$1.21 billion (approximately C$1.57 billion) plus customary post-closing adjustments on a cash-free and debt-free basis (the “Purchase Price”), and SOL Limited acquiring 12.16 million common shares in the capital of Parkland (the “Parkland Shares”).  This equates to a purchase price multiple on the 75% equity interest in SOL of approximately 7.5x Adjusted EBITDA, excluding working capital. Upon closing the Simpson Group, through its ownership in SOL Limited, will own approximately 9.9% of the issued and outstanding shares in Parkland and its intention is to remain a long-term investor in Parkland. The Transaction is expected to be immediately accretive to Parkland’s distributable cash flow per share by approximately 17% (pre-synergies).

The remaining 25% of the shares outstanding in SIL are subject to the Minority Purchase/Sale Right (as defined below) pursuant to which Parkland may elect to acquire or SOL Limited may elect to sell the remaining shares in the capital of SIL. Based on SOL’s Adjusted EBITDA for the 12-month period ending June 2018, the Adjusted EBITDA attributable to Parkland from the 75% ownership stake in SOL would have been US$161 million (approximately C$210 million), representing 75% of SOL’s Adjusted EBITDA for the period.

Parkland President and CEO Bob Espey said, “The addition of SOL will extend our global supply reach and enable us to continue to build our supply advantage to benefit our entire business. With its integrated supply chain backed by an extensive distribution network, fortress assets, a premier brand portfolio and an exceptional team, SOL has built a strong market position with unparalleled regional scale.  Together, Parkland and SOL create a significant North American and Caribbean growth platform. We are delighted to partner with the Simpson Group and welcome the opportunity to work with SOL’s strong management team to optimize and grow SOL’s industry leading retail and supply network through our combined scale and expertise.”

Sir Kyffin Simpson, CBE, Founder of SOL Limited said, “I am exceptionally pleased to announce the coming together (Business Combination) of Parkland and SOL, which will ensure an exciting and dynamic future for everyone.  With a desire to continue to develop and grow the business through expansion in new areas, I am extremely blessed to bring in our good friends Parkland of Canada to the Caribbean.  I have long admired Parkland as a company with their futuristic vision and energy, and I have been tremendously impressed with Bob Espey’s strong leadership along with his exceptional management team.”

“I am truly confident that this coming together with the fantastic team at SOL will be a complementary blend of cultures, ideas, technology and innovation.  I am convinced that Parkland and SOL are perfectly matched to develop new and exciting opportunities, with renewed energy that will provide excellent avenues for the development of our people that will in turn enhance our customer experience and open new doors for great synergies and improved logistics.  With forty-three million people and a GDP of more than US$200 billion, this is the perfect time to take advantage of the tremendous opportunities that abound in the Caribbean.”

“This coming together will also provide a big boost of confidence for regional investment opportunities and we are happy to do our part in this regard.  Please therefore join with me in welcoming this wonderful team and organization to the region.   I pray God’s richest blessings on this coming together and I look forward to what the future has in store for us all.”

Chief Financial Officer Mike McMillan said, “The scale of the pro-forma business combined with the strong cash flow from operations and operational synergies expected from SOL will further strengthen Parkland’s balance sheet and capital structure.  The financing for the Transaction will enable Parkland’s pro forma total leverage ratio to remain below 3.5x.  In addition, Parkland will be in a strong position from a balance sheet and capital structure perspective to continue to execute on our growth strategies.”

Key Highlights

  • The addition of stable earnings from 526 retail stations (266 company-owned or company-leased sites and 260 dealer owned and operated sites);
  • Provides an opportunity to roll out Parkland’s private label, loyalty and enhanced food offer;
  • Positions Parkland to access supply at scale in the US Gulf Coast, creating future growth opportunities and supply advantage in the US Gulf and Atlantic coasts for Parkland USA (in addition to our continued focus on the US Northern Tier and Rocky Mountain regions);
  • Total identified annual run-rate synergies of approximately 20% of SOL’s Adjusted EBITDA over the next three years;
  • Pro forma net debt to Parkland Adjusted EBITDA of approximately 3.2x on a consolidated basis with a strong deleveraging profile; and
  • The SOL operating brands will remain in place, and the SOL business will retain key management and continue to be managed from the Caribbean.

Parkland and SOL Limited, the sole shareholder of SIL, will enter into a shareholders agreement that grants a call right for Parkland and put right for SOL Limited (collectively, the “Minority Purchase/Sale Right”), pursuant to which Parkland may elect to acquire or SOL Limited may elect to sell the remaining 25% portion of the issued and outstanding shares in the capital of SOL (the “Remaining Shares”) at a value of 8.5x the Adjusted EBITDA of SOL based on the then current audited financial statements.  The Minority Purchase/Sale Right will be exercisable by either party for a period of 90 days following the release by Parkland of its audited financial statements for the fiscal year ended December 31, 2020 (or December 31, 2021 in the event that closing does not occur on or before December 31, 2018).  The Minority Purchase/Sale Right will be exercisable annually thereafter by either party for a period of 90 days following the release by Parkland of its audited annual financial statements.

The Transaction is subject to the receipt of customary third-party consents and regulatory approvals, including approval of the Toronto Stock Exchange.  Closing of the Transaction is expected to occur in late Q4 2018.

Strategic Rationale

  • Through strategic acquisitions and organic growth, SOL has built ‘fortress assets’ in stable markets across the region;
  • SOL is the largest independent fuel marketer and convenience store operator in the Caribbean region, with more than 4.8 billion liters of annual volume and approximately US$215 million (approximately C$280 million) in estimated Adjusted EBITDA (excluding expected synergies);
  • Provides comprehensive and key infrastructure in the Caribbean region to extend and enhance Parkland’s supply advantage and expertise;
  • Adds significant scale to Parkland’s retail and supply businesses;
  • Provides increased exposure to stable earnings across multiple lines of business;
  • Provides diversification from the North American market;
  • Significantly contributes to Parkland’s US dollar cash flows;
  • Positions Parkland to access supply at scale in the US Gulf Coast, creating future growth opportunities and supply advantage in the US Gulf and Atlantic coasts for Parkland USA;
  • Supports acquisition and expansion opportunities in the Caribbean region and broader Americas; and
  • Opens Parkland’s business to global supply advantages to benefit existing and future business opportunities.

SOL Retail Business

  • Represents approximately 2.0 billion liters of annual volume with operations in 20 countries;
  • Includes 526 retail stations (266 company owned or company leased sites and 260 dealer owned and operated sites); and
  • Operates 197 Shell-branded retail stations and 163 ESSO-branded retail stations and enjoys a long-standing relationship with both premier retail brands in the Caribbean.  SIL also operates 93 SOL-branded stations, which enjoy excellent recognition in the Caribbean.

SOL Supply and Distribution Business

  • SOL’s infrastructure assets include 32 import terminals, 7 pipelines, 3 marine berths and 10 charter ships;
  • Enables SOL to achieve superior supply economics in the Caribbean region as it is the largest fuels marketer with an integrated supply chain;
  • Primary objective is to supply the SOL marketing business and any spare capacity is sold to third parties;
  • Chartered vessel fleet provides SOL with inter-island transportation and distribution capabilities;
  • Owned and leased terminals enable intermediate storage for large fuel cargoes across the region;
  • Geographically close to US Gulf Coast supply, one of the longest refined product markets in the world;
  • Ownership of 29% non-operating financial stake in the entity that owns and operates the SARA Refinery located in Fort-de-France, Martinique (the “SARA Refinery”).  The capacity of the SARA Refinery is 16,000 thousand barrels per day; and
  • SARA Refinery owns and operates all the pipelines, ships and terminals required to supply refined products to Guadeloupe, French Guiana and Martinique.

SOL Commercial and Industrial Business

  • Represents approximately 1.8 billion liters of annual volume with operations in 21 countries;
  • Supplies gasoline, diesel, fuel oil, LPG (propane) and other petroleum products to commercial and industrial customers in the mining, power generation, manufacturing, construction, transport and hospitality industries;
  • Lubricants segment represents 21 million liters of annual volume and operations in 18 countries;
  • Distributes Shell and Pennzoil-branded lubricants and is the largest licensed distributor of Shell-branded lubricants in the Caribbean;
  • LPG (propane) segment represents 47 million liters of annual volume and operations in 10 countries;
  • Distributes LPG (propane) direct to customers under the highly recognizable SOL Energy brand; and
  • Distributes LPG (propane) to other distributors and governments under various supply agreements.

SOL Aviation Business

  • Represents approximately 600 million liters of annual volume with operations in 13 countries;
  • Operates in most countries through joint ventures with various third parties.  Joint ventures are structured to enable maximum utilization of high cost fixed assets; and
  • Jointly owns airport terminals and infrastructure in several markets.

Parkland Financing

The Transaction and related fees and expenses will be financed by Parkland with a fully underwritten financing package:

  • Debt financing of approximately C$1.1B underwritten by Canadian Imperial Bank of Commerce and National Bank of Canada as Co-Lead Arrangers and Bookrunners consisting of:
    • C$470 million of senior secured bank debt, a US$250 million (approximately C$325M million) term loan and a term facility of C$300 million.
  • SOL Limited will provide approximately C$518 million of equity financing through its investment in Parkland:
    • Parkland will issue 12.16 million Parkland shares to SOL Limited from treasury as partial consideration for the Business Combination at a price of approximately C$42.62 per share, representing the 5-day volume-weighted average price of Parkland’s common shares on the Toronto Stock Exchange as of market close on October 9, 2018.  After closing, SOL Limited will own approximately 9.9% of the issued and outstanding common shares in Parkland.

Parkland expects to replace the term facility with alternative longer-term debt prior to the closing of the Transaction.

Investor Event and Conference Call Information

Parkland will host a webcast and conference call at 6:30 AM MT (8:30 AM ET) on October 10, 2018 to discuss the Transaction.  Parkland’s Senior Leadership Team will be available to take questions from securities analysts and investors following their formal comments.

Please log into the webcast slide presentation 10 minutes prior to start time at:

Webcast: https://edge.media-server.com/m6/p/gxyt5yny

To access the conference call by telephone, dial toll-free (844) 889-7784.  International callers should use (661) 378-9928, Conference ID: 1558797.  Please connect approximately 10 minutes before the beginning of the call. The webcast will be available for replay one hour after the conference call ends. It will remain available at the link above for one year and will be posted to www.parkland.ca.

A link to the live webcast and investor presentation will be available on the Investors section of Parkland’s website at  http://www.parkland.ca/investors/.

If you are unable to participate in the call, a replay will be available by dialing (855) 859-2056, Conference ID: 1558797 (Canada and USA toll-free). For international callers, please dial (404) 537-3406, Conference ID: 1558797.  A transcript of the broadcast will be posted on the website once it becomes available.

About Parkland

Parkland is Canada’s largest and one of North America’s fastest growing independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator.  Parkland services customers through three channels: Retail, Commercial and Wholesale.  Parkland optimizes its fuel supply across these three channels by operating the Parkland Burnaby Refinery, and leveraging a growing portfolio of supply relationships and storage infrastructure.  Parkland provides trusted and locally relevant fuel brands and convenience store offerings, including its On the Run/Marché Express banners, in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully.  At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

About SOL

By providing fuels, lubricants, LPG products and an extensive network of service stations, SOL enables the energy that keeps the heart of our region beating. SOL is the largest independent petroleum marketing company in the Caribbean region and is committed to supporting and empowering the communities in which it operates.

With operations spanning across twenty-three territories, SOL’s highly qualified team reflects the talent, spirit and diversity of the region. SOL serves a wide range of commercial customers who are involved in shipping, luxury boating, aviation, mining, trucking and fleet operations, as well as families and individuals – hard working men and women who need a reliable partner to fuel their vehicles, homes and lives.

Advisors

Deloitte provided transaction services in respect of the Business Combination.

National Bank Financial Inc. served as financial advisor to Parkland.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (”collectively, “forward-looking statements”). Many of these forward-looking statements can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “projected”, “anticipates”, “estimates”, “continues”, “objective” or similar expressions and include, but are not limited to, statements regarding Parkland’s expectation of its future financial position, business and growth strategies and objectives, sources of growth, capital expenditures, financial results, future financing and the terms thereof, future transactions and the efficiencies to be derived therefrom, the successful completion of the Transaction and the timing thereof, the accretive impact of the Transaction (including the expected impact to Parkland’s distributable cash flow per share), the expected benefits resulting from the Transaction including Parkland’s leverage pro forma following the Transaction, Adjusted EBITDA of the business acquired in the Transaction, the Simpson Group’s intentions with respect to its ownership of Parkland, future projections of Adjusted EBITDA, the contribution to EBITDA and/or Adjusted EBITDA from the Transaction, volumes and gross margins expected to be derived from the Transaction, expected synergies and growth opportunities (including geographic areas of potential growth) resulting from the Transaction, the number of Parkland Shares to be issued as partial consideration for the Transaction, expected exercise of the Minority Purchase/Sale Right and the terms thereof, sources of financing for the Transaction, the ability of Parkland to refinance indebtedness under its term facility, Parkland’s expected pro forma total leverage, strength of Parkland’s balance sheet and capital structure pro forma the Transaction and Parkland’s continued ability to execute on its growth strategies. Parkland believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The forward-looking statements contained herein are based upon certain assumptions and factors including, without limitation: historical trends, current and future economic and financial conditions, and expected future developments. Parkland believes such assumptions and factors are reasonably accurate at the time of preparing this press release. However, forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Parkland’s Annual Information Form dated March 9, 2018 (”AIF”) and other continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Parkland’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks associated with: the failure to achieve the anticipated benefits of the Transaction, the aggregate amount of any adjustments to the Purchase Price, the ability to secure funding to finance the consideration payable upon the exercise of the Minority Purchase/Sale Right, expansion of Parkland’s business into the Caribbean, the ability of suppliers to meet commitments, failure to retain key management, failure to execute on plans to deleverage the combined Parkland business, failure to obtain necessary regulatory or other third party consents and approvals required to complete the Transaction, failure to complete the Transaction, failure to secure alternative sources of funding to the term facility on terms acceptable to Parkland, failure to meet financial, operational and strategic objectives and plans, general economic, market and business conditions, industry capacity, failure to realize anticipated synergies from the Transaction, the operations of Parkland’s assets, competitive action by other companies, actions by governmental authorities and other regulators including increases in taxes, changes and developments in environmental and other regulations, and other factors, many of which are beyond the control of Parkland. There is a specific risk that Parkland may be unable to complete the Transaction in the manner described in this press release or at all. If Parkland is unable to complete the Transaction, there could be a material adverse impact on Parkland and on the value of its securities. Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Readers are directed to, and are encouraged to read the risks and uncertainties described in “Forward-Looking Statements” and “Risk Factors” included in Parkland’s AIF and in “Forward-Looking Statements” and “Risk Factors” included in Parkland’s management discussion and analysis for the year ended December 31, 2017 (the “MD&A”) and for the three and six months ended June 30, 2018 (the “Q2 2018 MD&A”), as such information is incorporated by reference herein, each as filed on SEDAR at www.sedar.com and available on the Parkland website at www.parkland.ca.

Non-GAAP Financial Measures

This press release refers to certain financial measures that are not determined in accordance with International Financial Reporting Standards (“IFRS”). Net debt to Adjusted EBITDA and distributable cash flow per share are not measures recognized under IFRS and do not have standardized meanings prescribed by IFRS.  Other issuers may calculate these non-GAAP measures differently.  Parkland considers these to be important supplemental measures of Parkland’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industries.

In reference to Parkland’s Adjusted EBITDA, Adjusted EBITDA is a measure of segment profit and is considered to be forward-looking information in this document. See Section 12 of the Q2 2018 MD&A and Note 14 of the Interim Condensed Consolidated Financial Statements for a reconciliation of this measure of segment profit.

In reference to SOL’s Adjusted EBITDA, Adjusted EBITDA refers to the agreed-upon normalized earnings before income taxes, depreciation and amortization of SOL for the purposes of this Transaction, is considered to be forward-looking information in this document, and does not represent Parkland’s definition of Adjusted EBITDA.

Investors are encouraged to evaluate each adjustment and the reasons Parkland considers it appropriate for supplemental analysis.  Readers are cautioned, however, that these measures should not be construed as an alternative to net income determined in accordance with IFRS as an indication of performance. The financial measures that are not determined in accordance with IFRS in this press release are expressly qualified by this cautionary statement. Parkland believes these financial measures based are on such information that is reasonable but no assurance can be given that these expectations will prove to be correct and such figures should not be unduly relied upon.

To sign up for Parkland news alerts, please go to https://goo.gl/mNY2zj or visit www.parkland.ca.

___________________________

i All figures converted between USD and CAD using an exchange rate of US$1.0 = C$1.3

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Vero Water® Expands In Caribbean And Latin America With Eco-friendly Solutions Partner, OneLink Global

Leading hotels & resorts in the region have made Vero Water a key feature in their total guest experience, eliminating the waste of millions of plastic-bottles, and significantly reducing their overall carbon footprint.

MIAMI BEACH, Florida, July 30, 2018 /PRNewswire-HISPANIC PR WIRE/ – VERO WATER®, a leading provider of luxury still and sparkling water to the hospitality industry, today announced its rapid expansion in the Caribbean and Latin America in partnership with OneLink Global, a world-class distribution and service partner with unique experience and insight in the region. OneLink is committed to providing sustainable solutions to the hospitality industry. The exclusive distribution agreement expands Vero’s global footprint into regions where hotel and resorts dominate the landscape and are seeking an eco-friendly alternative to traditional bottled water.

Vero Water How it Works

“Recently major players in the hospitality industry both in the US and abroad have announced they have taken steps to eliminate plastic straws, which is a good start, but it’s not enough. By implementing a Vero Water program, hotels and resorts can eliminate plastic bottles which represent a massive threat to our environment on a global scale,” stated David Deshe, President of Vero Water. It is estimated that over 8 million metric tons of plastic end up in the ocean every year, having a catastrophic effect on marine life. Deshe continued, “Just last week, an island of over 30 tons of plastic waste was found floating off the coast of Playa Montesinos near the capital of the Dominican Republic and some of it has since washed up onshore. This not only threatens the marine eco-system but is a major threat to local businesses who rely on tourists attracted to the pristine beaches at their resorts.”

Through the OneLink partnership, Vero Water has rapidly expanded in the region, establishing a presence in many of the leading hotel and resort operators such as Iberostar Hotels & Resorts who have made a corporate strategic commitment to “go green”, incorporating Vero Water into the total guest experience. Collectively, these clients have projected to reduce waste by over 4 million plastic bottles this year alone. “As experts in both the region and meeting the unique needs the hospitality industry through sustainable solutions, we are proud to be a part of eliminating plastic waste in the Caribbean and Latin America,” said Gennaro Cirone President of OneLink Global.

Vero Water is committed to meeting the growing demands of consumers and the hospitality industry for sustainability. Vero enables clients to purify, chill and fill still and sparkling water on-site and on-demand, delivering a consistent signature taste, swiftly, profitably and sustainably. Transforming tap water results in a significant reduction in food miles and carbon footprint versus sourcing, bottling and transporting bottled water, often from various countries thousands of miles away from the end consumer. Bottle waste is minimized as the signature luxury VERO WATER bottles are reusable– sanitized and refilled on-premise.

About VERO WATER ®
Vero Water is a healthy lifestyle choice for Inspired Living. VERO WATER® is a leading provider of luxury still and sparkling water to the hospitality industry and is served to over 40 million consumers a year in six countries and in the United States from coast-to-coast in over 40 states. Vero is an exceptionally great tasting still and sparkling water for consumers, more sustainable for the environment, and a more profitable for the hospitality industry versus traditional bottled water brands. Vero’s proprietary purification and bottling process enables clients to purify, chill, fill and serve Vero still and sparkling water on-premise and on-demand. Served perfectly chilled from a luxury branded bottle with every pour, Vero’s signature taste is pure and crisp – noted by a distinctively luxurious mouthfeel and a light and refreshing finish. The exceptional taste and quality, combined with the unparalleled level of concierge service, has propelled Vero Water into many of the most acclaimed restaurants worldwide, firmly establishing it as the water brand proudly served by the most demanding and successful chefs, restaurateurs and owner operators in the hospitality industry.  verowater.com

ABOUT IBEROSTAR:
IBEROSTAR Hotels & Resorts is a resort hotel chain based in Palma de Mallorca (Balearic Islands, Spain), founded by the Fluxà family in 1986. IBEROSTAR Hotels & Resorts is an integral part of GRUPO IBEROSTAR, one of the main Spanish tourist companies with over 60 years of experience, which currently has 100 hotels of 4 and 5 stars in 17 countries around the world. For more information, please visit: IBEROSTAR.com

About OneLink Global:
OneLink Global (OLG) was established with the aim of providing sustainable solutions to the hospitality industry, specifically targeting the needs and requirements of Hotels and All-Inclusive Resorts across the Caribbean and Mexico and Latin America. OLG® are the exclusive distributors or authorized dealers for; EcoLogic Solutions®, an EPA Award winning Green Chemical Program. Vero Water®, allowing hospitality clients to serve exceptionally great tasting still and sparkling water, be environmentally responsible, and lower operational costs, and  EcoBruner®, a safer, cleaner, greener product for your chafing dish needs.

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Enterprise Rent-A-Car Now Operating in Dominican Republic

Enterprise Plus and Emerald Club Loyalty Programs Offered Across Popular Caribbean Destinations

ST. LOUIS, July 20, 2018 /PRNewswire-HISPANIC PR WIRE/ – As part of its ongoing expansion in Latin America and the Caribbean, the world’s largest car rental company has opened four new Enterprise Rent-A-Car locations at the Dominican Republic’s largest airports:

Enterprise Holdings Inc. owns the Enterprise Rent-A-Car brand, as well as National Car Rental and Alamo Rent A Car. The National brand has been operating in the Dominican Republic since 1974.

From L to R: Analie Prieto, general manager of Enterprise franchisee Motor Plan; José Muñiz, Enterprise sales manager; and Michelle Geara, Enterprise marketing manager. (PRNewsfoto/Enterprise Holdings Inc.)

The Enterprise Rent-A-Car brand made its debut in the Caribbean in 2014 through franchisees in Guadeloupe and Martinique. It expanded into Latin America in 2015, and announced the opening of 22 new locations throughout Belize, Honduras, Mexico, Tortola, Trinidad & Tobago, Turks & Caicos and Uruguay in 2016.

Enterprise Holdings ranks near the top of the global travel industry in terms of revenue, ahead of many airlines and most cruise lines, hotels, tour operators and online travel agencies. Today, the Enterprise, National and Alamo brands operate in more than 90 countries, including 31 in Latin America and the Caribbean.

“The Dominican Republic is an important piece of our planned growth in the region,” said Peter A. Smith, vice president of global franchising at Enterprise Holdings. “And this expansion allows travelers even more access to our world-renowned customer service and convenient rental process.”

Loyalty Program Expansion

Customers traveling to the Dominican Republic – one of the most popular destinations in the Caribbean – also can enjoy more perks and rewards with the expansion of two loyalty programs: Enterprise Plus through the Enterprise Rent-A-Car brand, and the award-winning Emerald Club, through the National Car Rental brand.

“Our brands are continuing to grow internationally, largely due to the continued loyalty of customers,” said Smith. “Increasing the availability of Enterprise Plus and Emerald Club with our new locations in the Dominican Republic is a natural way to thank our customers for their business and further our mission to serve them no matter where they decide to travel.”

This expansion follows both loyalty programs’ introduction in Colombia, Honduras, Jamaica, Peru and Suriname in 2017. The same year, Enterprise Plus was also introduced in Turks & Caicos, Belize, Costa Rica, Guatemala, Mexico, Nicaragua, Tortola, Trinidad & Tobago and Uruguay.

Emerald Club

Through the Emerald Club, members earn vehicle upgrades according to membership level. All Emerald Club members are guaranteed a midsize or above vehicle at the reserved midsize rate. Emerald Club members at the Executive level and above are guaranteed a full-size or larger vehicle at the reserved midsize rate. Members can also choose to earn either free rental days or frequent-traveler miles or points with one of National’s airline or hotel partners.

In addition, Emerald Club members renting in Latin America and the Caribbean can take advantage of Emerald Club Priority Service, which expedites the rental process by offering a dedicated line at the service counter exclusively for Emerald Club members.  Membership is complimentary for all National customers, and individual travelers can easily enroll themselves in the program by clicking the Emerald Club “Join Now” link at www.nationalcar.com.

Enterprise Plus

With every qualifying rental, Enterprise Plus members earn points they can redeem anytime for free rental days in any available vehicle at thousands of participating Enterprise locations worldwide. Points don’t expire as long as the member has one qualifying Enterprise rental in a three-year period. Free rental day awards apply to time and mileage (base rate) only and do not cover taxes, surcharges and concession fees.

Once enrolled, Enterprise Plus members simply use their membership number to book a reservation online at www.enterprise.com, via the Enterprise mobile app or over the phone to receive all member benefits.  As Enterprise Plus members rent more frequently, they can quickly rise to Silver, Gold or Platinum status to gain access to even more reward options until the end of the next program year. Each status level has its own unique set of benefits, such as bonus points and vehicle upgrades. Membership in Enterprise Plus is free, and the loyalty program is open to anyone at least 21 years old.

Enterprise Holdings Corporate Brands Logo. (PRNewsFoto/Enterprise Holdings) (PRNewsfoto/Enterprise Holdings)

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Visa launches Visa Loyalty Solutions, the first 100% digital loyalty platform in Latin America and the Caribbean

In partnership with novae, Visa Loyalty Solutions has made it easier than ever to earn and redeem points with Visa, enabling consumers to exchange loyalty points anytime, anywhere and from any device

MIAMI, July 10, 2018 /PRNewswire-HISPANIC PR WIRE/ – Visa (NYSE:V) today announced the launch of Visa Loyalty Solutions (VLS), an omnichannel digital points redemption platform available to all issuing banks in Latin America and the Caribbean (LAC) and offering consumers more than a quarter of a million redemption options. Visa Loyalty Solutions was co-created by Visa LAC in collaboration with global FinTech and InsurTech company novae.

wearenovae.com

This white-label solution, developed for Visa’s bank partners, enables issuing member banks of any size to offer top-of-the-line rewards and customer care programs they can adapt to their loyalty strategies and brand as their own. Visa Loyalty Solutions features a user-friendly mobile app and web portal, as well as chat and voice, to make points redemption and customer service faster and easier for cardholders and financial institutions around the region.

“Visa Loyalty Solutions offers a seamless and flexible digital experience that adds value for consumers, participating businesses and issuers, and can be easily adapted to each of our bank partners’ loyalty strategies,” said Ricardo Tafur, Vice President of Consumer Products for Visa Latin America and the Caribbean. “We are committed to innovate in order to provide the best consumer experience,” he added.

This new digital platform offers cardholders the option to redeem points and get preferential deals at more than 285,000 hotels, hundreds of airlines and a wide network of car rental companies–not to mention tours, amusement parks and other entertainment options–around the world.

“At novae we want to bring our partners disruptive technologies that are user-friendly, efficient and reliable. That’s why we’re so excited to be co-creating platforms and applications with Visa to create nimbler, simpler and smarter experiences for merchants and consumers,” said Sergio Arana, novae’s CEO and founder.

The platform’s innovative and flexible redemption process allows cardholders to either use their points or combine them with their cards to complete their purchases. Amounts are displayed in U.S. dollars as well as points to give cardholders a better idea of the real value of their purchases. Online and mobile customer service centers provide assistance and information via voice, live chat and video.

To experience the new Visa Loyalty Solutions, click here.

About Visa
Visa Inc. (NYSE: V) is the leading digital payment company. Our mission is to connect the world through the most innovative, reliable and secure payment network that empowers people, businesses and economies to thrive. Our advanced global processing network is capable to handle more than 65,000 transaction messages per second. The company’s continuous focus on innovation is a catalyst for rapid business growth, connected through any device, as well as the engine behind a cash-free future for everyone, everywhere. While the world moves from analog to digital, Visa applies its brand, products, team, network and scale to the task of shaping the new future of commerce. For more detailed information, please visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and @VisaNews. For news in Latin America, please visit @VisaNewsLatam.

About novae
novae leverages disruptive technologies to make mobile transactions, communications and other business-consumer interactions faster, easier and more enjoyable on any platform. Headquartered in San Francisco and with a business and innovation hub in Miami, an InsurTech hub in London and shared service centers in Buenos Aires and Bogotá, novae has clients across the Americas and Europe. novae is part of a&a Co, a global equity investment company based in San Francisco and focused on creating, acquiring and investing in ventures in the artificial intelligence (AI), mobile services and payments/loyalty realms. novae’s strategic partners include Visa, CyberSource, BPP, Expedia and Canopius Syndicate at Lloyd’s. Investors in novae include the private debt and equity capital funds CASEIF III LP and ExWorks Capital LLC. For more information, visit wearenovae.com (mobile-only experience) or Twitter or LinkedIn.

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Cloud Carib Expands Managed Cloud and ICT Services Business to Ecuador

The new data centre is the company’s sixth facility overall and first in Latin America

CaribPR Wire, NASSAU, Bahamas, March 29, 2018: Cloud Carib, a provider of managed cloud and ICT services, announces its expansion into Latin America with the opening of a new CaribPod, or data centre, in Ecuador. The CaribPod in Ecuador is a Tier 4 facility from which Cloud Carib will provide managed cloud and ICT services to regional businesses and government agencies.

Last month, Cloud Carib announced that 2017 was a record year for the company, with revenue doubling year-over-year and the addition of over 40 new ICT jobs. Growth was spurred by organizations seeking cloud technology expertise and help understanding the risks and regulations necessary to leverage and accelerate digital transformation.

Cloud Carib also operates data centres in the Bahamas (Nassau and Freeport), Jamaica, Barbados and Panama. The Ecuador CaribPod is supported by Cloud Carib’s Command and Control Centre in Nassau, which offers round-the-clock support and service to clients including leading financial services organizations and governments.

With the opening of its Ecuador CaribPod, Cloud Carib is well positioned to accelerate expansion plans into Latin America, according to CEO Scott MacKenzie. “The Caribbean and Latin America are just beginning to pursue digital transformation to boost local economies and deliver better, more efficient services to citizens,” says MacKenzie. “We are committed to being the region’s premier provider of cloud and managed ICT services, and we’ll continue to invest in our infrastructure over the coming months.”

About Cloud Carib
Cloud Carib is the region’s premier provider of managed cloud services founded upon the principles of delivering quality, agility, and value for every client. Solutions range from complex bespoke dedicated private cloud offerings to hybrid cloud services. Every solution provides clients with controlled costs, unrivaled levels of service, and unparalleled levels of data protection and privacy – when and where privacy matters.

Cloud Carib expande sus Servicios Administrados en la Nube y TIC a Ecuador

El nuevo centro de datos es la sexta instalación de la compañía y la primera en América Latina

CaribPR Wire, NASSAU, Bahamas, March 29, 2018: Cloud Carib, proveedor de servicios administrados en la nube y TIC,anuncia su expansión a América Latina con la apertura de un nuevo CaribPod, o centro de datos, en Ecuador. El Caribpod de Ecuador es una instalación de Nivel 4 desde la que Cloud Carib ofrecerá servicios administrados en la nube y TIC para las empresas regionales y agencias gubernamentales.

El mes pasado, Cloud Carib anunció que 2017 fue un año récord para la compañía, con ingresos que se duplicaron año tras año y la adición de más de 40 nuevos puestos de trabajo en TIC. El crecimiento fue impulsado por las organizaciones que buscan experiencia en tecnología en la nube y ayudan a comprender los riesgos y las regulaciones necesarias para aprovechar y acelerar la transformación digital.

Cloud Carib también dispone de centros de datos en las Bahamas (Nassau y Freeport), Jamaica, Barbados y Panamá. El Caribpod de Ecuador recibe soporte del Centro de Control y Comando de ClaudCarib en Nassau, que ofrece soporte y servicio las 24 horas a sus clientes, en los que se incluyen gobiernos y organizaciones líderes en el sector financiero.

Con la apertura del Caribpod de Ecuador, Cloud Carib está bien posicionada para acelerar sus planes de expansión en América Latina, según su director ejecutivo, Scott MacKenzie. “El Caribe y América Latina están empezando a buscar la transformación digital para impulsar a las empresas locales y ofrecer servicios mejores y más eficientes a los ciudadanos”, afirma MacKenzie. “Nos comprometemos a ser el principal proveedor de servicios de TIC administrados en la nube y de la región, y seguiremos invirtiendo en nuestra infraestructura en los próximos meses”.

Sobre Cloud Carib
Cloud Carib es el principal proveedor de servicios administrados en la nube de la región, sus principios son: ofrecer calidad, agilidad y valor para cada cliente. La gama de soluciones cubre tanto servicios de nube privada y personalizada como servicios de nube híbrida. Cada solución proporciona a los clientes precios controlados, niveles de servicio inigualables y niveles incomparables de protección de datos y privacidad – cuando y donde la privacidad importa.

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The Caribbean Association of Banks Is Concerned About The EU’s “Blacklist”

CaribPR Wire, CASTRIES, St. Lucia, Thurs. Mar. 22, 2018: The Caribbean Association of Banks Inc., (CAB), is deeply concerned about the recent inclusion of Caribbean territories on the European Union Commission’s (EU) list of non-cooperative jurisdictions for tax purposes.

The list names countries which have not displayed sufficient commitment to the tax standards identified by the EU.

Blacklisting has debilitating effects on our Caribbean economies, specifically:

  • It exacerbates the perception of our Region as ‘High Risk’ and consequently, negatively affects the risk profile of regional financial institutions and the willingness of correspondent banks to do business with them;
  • It severely reduces critically-needed development funding from the EU and limits the ability of Caribbean territories to pursue their development goals; and
  • It makes the region vulnerable to future sanctions and financial penalties, which may be levied against “blacklisted” jurisdictions.

Removal from the blacklist requires a high-level political commitment from the affected jurisdictions to address the deficiencies identified by the EU’s Code of Conduct Group. The status of Caribbean Territories as of March 13, 2018 by the OECD are as follows:

Annex I (Black list) Annex II (Grey list)
Anguilla Curacao
The Bahamas Antigua and Barbuda Dominica
Saint Kitts and Nevis Barbados Grenada
Trinidad and Tobago Belize Jamaica
Bermuda St. Lucia
British Virgin Islands

Cayman

St. Vincent and the Grenadines

The EU has given the above countries specific timeframes to make high level commitments to address the deficiencies identified by the Code of Conduct group.  Some of the deficiencies identified in the various Caribbean jurisdictions are:

  • Existence of Harmful and Preferential Tax Regimes;
  • Non-application of Base Erosion and Profit Sharing (BEPS) minimum standards (tax avoidance strategies which seek to artificially shift profits to low/no tax jurisdictions); and
  • Non-commitment to signing and ratifying the Convention of Mutual Administrative Assistance (Tax information exchange agreements to fight international tax evasion).

The CAB recognizes the efforts of regional governments thus far towards compliance with the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes Standards. Nonetheless, the very challenging issue of harmful and preferential tax regimes needs to be addressed.

Consequently, the CAB:

  1. Calls upon all regional governments concerned, to carefully assess the deficiencies identified by the EU and take the necessary actions to ensure compliance with Global Standards in order to avoid further reputational risk/damage to the region.
  2. Strongly recommends continued collaboration and coordination among CARICOM Governments so as to take appropriate measures on key issues which can impact the financial services sector as well as the growth and development of regional economies.

The CAB is a community of banks and other financial institutions in the Caribbean Region, which proactively influences issues impacting the financial services sector through advocacy, education and networking. The CAB represents fifty-three (53) banks and financial institutions in the Caribbean with an asset base in excess of US$40 billion as at Dec 31, 2017, in addition to seventeen (17) Service members comprising regional and international technological and professional institutions and three (3) Honorary Members. For more information see www.cab-inc.com/

Media Contact:

Mary Popo

General Manager

Email: mary.popo@cab‐inc.com
Tel (758) 452‐2877

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Premier Options for Sports Fans with Flow Sports

CaribPR Wire, MIAMI, March 12, 2018: A new premium sports channel is launching in the Caribbean! Flow Sports 2, which goes live today, will be the home of the Indian Premier League (IPL) and the Commonwealth Games – both live sports properties that are only available to Flow.

Flow Sports 2 will be exclusively available to TV customers of Flow and BTC.  The channel will be packed with “must see” premium international and regional live sports starting with the Commonwealth Games on the 4th of April and the IPL which starts on the 7th of April.  Viewers of the channel can also watch other flagship sports exclusively like Major League Soccer, IAAF events, New Zealand Cricket and FA Cup Football. The introduction of Flow Sports 2 is a direct response to customer demand for compelling live sports in the Caribbean and to accommodate the breadth of sport now available on the Flow Sports Network – establishing its position as the preeminent broadcaster of premium live sports in the region.

The current Flow Sports channel is also getting a makeover and will be re-branded to Flow Sports 1. The channel will continue to give viewers access to riveting and outstanding sporting action including the Flow CARIFTA Games, Concacaf Football Premier League, Scotiabank Concacaf Champions League, and High School Football, Rugby, Tennis, Racing and Cycling.  At the same time, Flow Sports Premier will be rebranded Flow Sports Premier League, establishing itself as the channel for die-hard football fans with dedicated 24/7 coverage of the Premier League – again only available to Flow TV customers.   Flow Sports continues to have the exclusive rights to the Premier League.

“We know how important sport is to the Caribbean”, said Shuja Khan, Chief Commercial Officer at C&W Communications. “Viewers are demanding premium sports and want to see both the best and emerging sports stars from the region competing on the global stage.  Flow Sports is proud to be the exclusive rights partner for brands like the IPL, Commonwealth Games and the Flow CARIFTA Games, as we continue to ensure that we give fans the access they deserve.”

Shuja also spoke of the importance of supporting the progress and development of sports generally.  “It is important for us as a company not only to invest in the broadcast of sports, but also establish events themselves”, he said.  “We’ve been a proud partner of numerous sporting events across the region, including the Flow CARIFTA Games and the Flow Caribbean Club Championship. These events are the springboard for professional Caribbean athletes, and we’re extremely proud to provide continued support so that athletes can realize their dreams, as well as share the experience with millions of fans and supporters using our platforms”.

Viewers can learn more about Flow Sports 1 and Flow Sports 2 by visiting www.flowsports.co.

About C&W Communications

C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.

C&W also operates a state-of-the-art submarine fiber network – the most extensive in the region.

Learn more at www.cwc.com, or follow C&W on LinkedIn, Facebook or Twitter.

About Liberty Latin America

Liberty Latin America is a leading telecommunications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. The communications and entertainment services that we offer to our residential and business customers in the region increasingly include combinations of services comprised of digital video, broadband internet, telephony and mobile services. Our business products and services include enterprise-grade connectivity, data center, hosting and managed solutions, as well as information technology solutions with customers ranging from small and medium enterprises to international companies and governmental agencies. In addition, Liberty Latin America operates a sub-sea and terrestrial fiber optic cable network that connects over 40 markets in the region.

For more information, please visit www.lla.com.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1a5de40c-fa51-4549-b775-72b25463affc

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Cloud Carib Achieves Record Growth as Caribbean and Latin American Businesses and Government Agencies Pursue Digital Transformation

CaribPR Wire, NASSAU, The Bahamas, Feb. 15, 2018: Cloud Carib, a provider of managed cloud and ICT services to businesses and governments in the Caribbean and Latin American region, completed its most successful year to date in December. The company, which launched in 2011, attracted a record number of new clients in 2017 led by organizations seeking cloud technology expertise and help understanding the risks and regulations to leverage cloud and accelerate digital transformation.

“The Caribbean and Latin America are ripe for digital transformation and technology innovation,” says Scott MacKenzie, CEO at Cloud Carib. “Technology is advancing at an exponential rate and both the public and private sector cannot keep up. Everyone is struggling to maintain the status quo, but realizing that standing still is no longer an option as the world rapidly evolves. Citizens and consumers are suffering from inaction and leading governments and organizations are finally embracing what is possible. We are on a mission to help organizations securely move their data and applications to the region’s premier cloud for added performance, availability and cost savings.”

Some noteworthy Cloud Carib milestones from 2017 include:

  • Doubled revenue year-over-year
  • Added over 40 new regional ICT jobs, with plans to add an additional 60 in 2018
  • Added a record number of new clients, including leading financial services organizations and governments in the region
  • Introduced Carib365, which allows Cloud Carib to keep client data in the Caribbean region – outside the US and Europe – thereby ensuring data privacy
  • Announced service extensions into Panama, Barbados and Jamaica, and additional regional sites planned for Trinidad and Tobago, the Cayman Islands, and other Central and Latin American countries
  • Opened the only 24×7 Command and Control Centre (C3) dedicated to managed cloud services within the Caribbean and Latin America, offering round-the-clock cloud support and service monitoring
  • Achieved Gold Partner status with Palo Alto Networks, a leading next-generation security company
  • Received the Cisco Collaboration Partner of the Year for Architectural Excellence in the Americas and CANSAC regions
  • Became the first Red Hat Certified Cloud Solutions Provider (CCSP) in the Caribbean and Latin American regions
  • Appointed Scott MacKenzie to CEO

“We’ve experienced significant growth over the last year as we continue to educate the market on the benefits of cloud infrastructure and technology services,” says MacKenzie. “We expect this growth to continue as we look to expand into Central and Latin America and other areas throughout the Caribbean over the next year.”

About Cloud Carib
Cloud Carib is the regions premier provider of managed cloud services founded upon the principles of delivering quality, agility, and value for every client. Solutions range from complex bespoke dedicated private cloud offerings to hybrid cloud services. Every solution provides clients with controlled costs, unrivaled levels of service, and unparalleled levels of data protection and privacy – when and where privacy matters.

For more information, please visit www.cloudcarib.com.

Cloud Carib logra un crecimiento récord a medida que las empresas del Caribe y Latinoamérica y los organismos gubernamentales buscan la transformación digital

CaribPR Wire, NASSAU, Las Bahamas, Feb. 15, 2018: Cloud Carib, un proveedor de servicios gestionados en la nube y TIC para empresas y gobiernos en la región del Caribe y Latinoamérica cerró en diciembre su año más exitoso hasta la fecha. La compañía, que fue lanzada en 2011, atrajo un número récord de nuevos clientes en 2017 liderados por organizaciones que buscan experiencia en tecnología en la nube y asistencia para comprender los riesgos y las regulaciones a fin de aprovechar la nube y acelerar la transformación digital.

“El Caribe y Latinoamérica están listos para la transformación digital y la innovación tecnológica”, afirma Scott MacKenzie, director general de Cloud Carib. “La tecnología avanza a un ritmo exponencial y ni el sector público ni el privado pueden mantener el ritmo. Todos luchan por mantener el status quo y se dan cuenta de que quedarse inactivos ya no es una opción dado que el mundo evoluciona con rapidez. Los ciudadanos y los consumidores sufren de inacción y los principales gobiernos y organizaciones finalmente están adoptando lo que es posible. Nuestra misión es ayudar a las organizaciones a trasladar de manera segura sus datos y aplicaciones a la nube principal de la región para obtener un mayor rendimiento, disponibilidad y ahorro de costos”.

Entre algunos logros significativos de Cloud Carib en 2017 se incluyen:

  • Ingresos duplicados año tras año
  • Se agregaron más de 40 nuevos empleos regionales en TIC, con planes para agregar otros 60 más en 2018.
  • Se ha agregado un número récord de nuevos clientes, incluidas las principales organizaciones de servicios financieros y los gobiernos de la región.
  • Se introdujo Carib365, que permite a Cloud Carib mantener los datos de los clientes en la región del Caribe, fuera de EE. UU. y Europa, garantizando así la privacidad de los datos.
  • Se anunciaron ampliaciones de servicios en Panamá, Barbados y Jamaica, y se planificaron sitios regionales adicionales para Trinidad y Tobago, las Islas Caimán y otros países de América Central y Lationamérica.
  • Se inauguró el único Centro de Comando y Control (C3) 24×7 dedicado a servicios gestionados en la nube en el Caribe y Latinoamérica, ofreciendo soporte en la nube y monitoreo del servicio las 24 horas del día.
  • Se alcanzó el nivel Gold Partner con Palo Alto Networks, una compañía líder de seguridad de última generación.
  • Se recibió el Collaboration Partner of the Year for Architectural Excellence (Socio colaborador del año para la excelencia arquitectónica) de Cisco en América y la región de CANSAC.
  • Se convirtió en el primer proveedor de soluciones en la nube certificado (CCSP, por sus siglas en inglés) por Red Hat en las regiones del Caribe y Latinoamérica.
  • Se nombró a Scott MacKenzie como director general.

“Hemos experimentado un crecimiento significativo en el último año a medida que continuamos educando al mercado sobre los beneficios de la infraestructura en la nube y los servicios de tecnologías”, declara MacKenzie. “Esperamos que este crecimiento continúe mientras esperamos expandirnos a América Central y Latinoamérica, así como a otras áreas del Caribe durante el próximo año”.

Acerca de Cloud Carib
Cloud Carib es el principal proveedor regional de servicios gestionados en la nube, fundado sobre los principios de ofrecer calidad, agilidad y valor a cada cliente. Las soluciones van desde ofertas complejas personalizadas de nube privada hasta servicios de nube híbridos. Cada solución ofrece a los clientes costos controlados, niveles de servicio inigualables y niveles incomparables de protección de datos y privacidad, cuando y donde la privacidad es importante.

Para obtener más información, visite www.cloudcarib.com.

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C&W Business Attains Cisco® Cloud and Managed Services Partner Master Certification

CaribPR Wire, MIAMI, Jan. 26, 2018: C&W Business announced today that it has attained the Cisco Cloud and Managed Services Partner (CMSP) Master certification for the Caribbean and Latin American region, joining an elite group of Cisco® partners worldwide.  C&W is the first provider operating in the region to achieve this distinction.

The Cloud and Managed Services Partner Master designation is for partners who sell and deliver Cisco powered products enabled by a world-class network operation center responsible for delivering, monitoring and pro-active management and maintenance services. Cisco powered product offers are best-in-class, flexible, and scalable cloud and managed services that are designed to help customers to expand their reach, enhance their customer experience and capitalize on emerging opportunities. The customer benefits from superior levels of service, security, and 24-hour support from Cisco partners who undergo rigorous certification and a third-party audit of their solutions.

Following several years of significant investment, C&W Business has become the region’s premier hosted solutions and ITaaS provider, with world-class Tier III/IV facilities located in Bogota (2), PanamaMiamiCayman, and Curacao, all inter-connected via our unmatched subsea fiber network (50,000 km and growing) reaching over 40 markets. C&W Business is globally recognized by Gartner which has named C&W Business to its coveted “Magic Quadrant” for the last 3 years and Ovum ranks C&W #4 globally for our Disaster Recovery as a Service (DRaaS) solutions.

To attain the CMSP Master designation, C&W Business went through a rigorous vetting process by Cisco which included showing a network operation center capable of servicing multiple ‘referenceable’ customers as well as passing an independent third-party audit of capabilities. As a Cisco Managed Services Master Partner, C&W Business also had to demonstrate that it has established managed service ITIL processes, practices, and has tools in place to support Cisco advanced technologies at all phases of the lifecycle — prepare, plan, design, implement, operate, and optimize.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/51a4f85b-79c5-405c-b399-96fc72adb9e9

Shuja Khan, Chief Commercial Officer, C&W Communications said, “We are truly delighted to have earned this CMSP Master Certification for the Caribbean and Latin America. Attaining this globally recognized certification further underlines our expertise and capacity to provide Cloud based Managed Services to our customers in the region. As the only provider in the Caribbean with this certification, it also demonstrates our position as one of Cisco’s “go-to” partners for providing cloud based services.”

About C&W Communications

C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.

C&W also operates a state-of-the-art submarine fiber network – the most extensive in the region.

Learn more at www.cwc.com, or follow C&W on LinkedInFacebook or Twitter.

About Liberty Latin America

Liberty Latin America is a leading telecommunications company operating in over 20 countries across Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. The communications and entertainment services that we offer to our residential and business customers in the region increasingly include “triple-play” and “quad-play” combinations of bundled services comprised of digital video, broadband internet, telephony and mobile services. Our business products and services include enterprise-grade connectivity, data center, hosting and managed solutions, as well as information technology solutions with customers ranging from small and medium enterprises to international companies and governmental agencies. In addition, Liberty Latin America operates a sub-sea and terrestrial fiber optic cable network that connects over 40 markets in the region.

For more information, please visit www.lla.com.

C&W Business obtiene la certificación Master Cloud and Managed Services Partner, de Cisco®

CaribPR Wire, MIAMI, Jan. 26, 2018:– C&W Business anunció hoy que la compañía ha obtenido la certificación Master Cloud and Managed Services Partner (CMSP) de Cisco para la región del Caribe y América Latina, por lo que ahora forma parte de un selecto grupo de socios de Cisco® en todo el mundo. C&W es el primer proveedor que opera en la región en recibir esta distinción.

La certificación Master Cloud and Managed Services Partner (CMSP) se orienta a socios que venden productos impulsados por Cisco que dependen de un Centro de Operaciones de Red (NOC) de clase mundial que brinda y monitorea servicios de mantenimiento y gestión proactivos. Las ofertas de productos impulsados por Cisco son servicios gestionados y en la Nube escalables, flexibles y destacados en su clase, y están diseñados para ayudar a los clientes a expandir su alcance, fortalecer la experiencia al cliente y capitalizar las oportunidades. Los clientes se beneficiarán de niveles de servicio superiores, seguridad y soporte las 24 horas por parte de socios de Cisco con rigurosas certificaciones, y cuyas soluciones son auditadas por terceros.

Luego de muchos años de grandes inversiones, C&W Business se ha convertido el principal proveedor de ITaaS y soluciones de hosting de la región, con instalaciones de Tier III/IV de clase mundial ubicadas en Bogotá (2), Panamá, Miami, Caimán y Curacao interconectadas a través de nuestra inigualable red de fibra submarina (de 50.000 kms y en expansión), que abarca 40 mercados. C&W Business es una compañía globalmente reconocida por Gartner, lo que la ha llevado a alcanzar el codiciado Magic Quadrant los últimos 3 años. Por su parte, Ovum clasifica a C&W #4 a nivel global por sus soluciones de Disaster Recovery as a Service (DRaaS).

Para lograr la certificación Master CMSP, C&W Business atravesó un riguroso proceso de evaluación realizado por Cisco que incluyó contar con un Centro de Operaciones de Red (NOC) capaz de servir a múltiples clientes “de referencia” y aprobar una auditoría de capacidades independiente realizada por un tercero. Como compañía socia Master de Servicios Gestionados de Cisco, C&W Business también tuvo que demostrar haber establecido prácticas y procesos de ITIL de servicios gestionados y contar con herramientas para respaldar las tecnologías avanzadas de Cisco en todas las fases de su ciclo de vida (preparación, planeamiento, diseño, implementación, operación y optimización).

La foto que acompaña esta nota está disponible en http://www.globenewswire.com/NewsRoom/AttachmentNg/51a4f85b-79c5-405c-b399-96fc72adb9e9

Shuja Khan, Director Comercial de C&W Communications, señaló: “Estamos verdaderamente entusiasmados por haber alcanzado esta Certificación Master CMSP para el Caribe y América Latina. El logro de esta certificación, reconocida a nivel global, se suma a nuestra trayectoria y capacidad de brindarles a nuestros clientes de la región Servicios Gestionados basados en la Nube. Somos el único proveedor en el Caribe con esta certificación, lo que también demuestra nuestra posición como uno de los socios de preferencia de Cisco en servicios basados en la Nube”.

Acerca de C&W Communications

C&W es un proveedor de servicios completos de comunicaciones y entretenimientos que brinda servicios móviles, de telefonía, de banda ancha y de video líderes en el mercado a consumidores de 18 países. A través de su división de negocios, C&W brinda servicios nacionales e internacionales de gestión de redes, hosting de centros de datos y soluciones de servicios de TI personalizadas mediante tecnología en la Nube para servir a gobiernos y negocios.

C&W también opera una red de fibra submarina de última generación –la más extensa en la región–.

Lea más información en www.cwc.com o siga a C&W en LinkedInFacebookTwitter.

Acerca de Liberty Latin America

Liberty Latin America es una compañía de telecomunicaciones líder que opera en más de 20 países en América Latina y el Caribe bajo las marcas de consumo VTR, Flow, Liberty, Más Móvil y BTC. Los servicios de comunicaciones y entretenimiento que ofrecemos a nuestros clientes residenciales y comerciales en la región incluyen cada vez más combinaciones de servicios de “triple play” y “quad play” compuestos por video digital, Internet de banda ancha, telefonía y servicios móviles. Nuestros productos y servicios comerciales incluyen conectividad de nivel empresarial, centro de datos, hosting y soluciones administradas, así como soluciones de tecnología de la información con clientes que van desde pequeñas y medianas empresas hasta empresas internacionales y agencias gubernamentales. Además, Liberty Latin America opera una red de cable de fibra óptica submarino y terrestre que conecta más de 40 mercados en la región.

Para mayor información, por favor visite www.lla.com

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